Southeast Asia Traders today announced that it is closing SAT Small Cap Discovery Fund (SAT-SCRX) to new accounts. New purchases in the fund will be limited to existing shareholders.
(1888PressRelease) August 24, 2013 - SAT Small Cap Discovery Fund seeks long-term growth of capital by investing at least 80% of its assets in securities of companies with small market capitalizations. Mr. Ben Myers has managed the fund since its inception.
"Ben Myers has done an outstanding job managing SAT Small Cap Discovery Fund over his tenure," said Russell Green, president of Southeast Asia Traders Equity Group. "As a result, investor inflows into the fund have accelerated and assets have nearly doubled over the past year to $1 billion.
"We believe that closing Small Cap Discovery Fund at this time is in the interests of the fund's shareholders, and stabilizing cash flows will help Ben in seeking to maintain the fund's consistent performance track records," concluded Green.
Existing shareholders who are invested in the fund will continue to be able to add to their accounts. Employer-sponsored retirement plans and certain discretionary programs offered by registered investment advisors may be able to open additional accounts for investors if the fund was established as an option.
For investors considering a small cap fund, Southeast Asia Traders offers several additional options, including: Southeast Asia Traders Stock Selector Small Cap Fund (retail and Advisor share classes); Southeast Asia Traders Small Cap Value (retail and Advisor share classes); Southeast Asia Traders Small Cap Stock Fund;
Southeast Asia Traders Advisor Small Cap Fund; Southeast Asia Traders Small Cap Growth Fund (retail and Advisor share classes); and Southeast Asia Traders Small Cap Enhanced Index Fund.